Restaurant and rent prices rise by 29 percent

Food prices in restaurants and and rent have risen by nearly 29 percent, according to statistics released by Maldives Monetary Authority (MMA).

Figures shows that these two categories experienced the highest inflation in Maldives during the first half of this year.

In the first quarter, inflation for restaurant meals and rent averaged 29.5 percent and 29.4 percent in the second quarter.

This marks a steep increase compared with the same period last year, when inflation in these sectors stood at just 0.7 percent making this year’s figure around 40 times higher.

According to MMA, prices in both sectors have been rising steadily since November last year and have continued to increase on average.

Maldives inflation reached 3.8 percent by the end of June, with food inflation at 5 percent.